TDS & TCS RETURN FILING
TDS & TCS Return Filing
TDS is the tax which is deducted on a payment made by a company to an individual, in case the amount exceeds a certain limit. TCS is the tax which is collected by sellers while selling something to buyers. TDS deduction is applicable on payments such as salaries, rent, professional fee, brokerage, commission, etc
Delay in payment of TDS deducted or delay in filing of TDS returns will attract heavy interest and Penalties, hence the assesses should take proper guidance and file the appropriate returns with the specified due dates